Russell Investments Group Ltd. Acquires 12,142 Shares of US Concrete Inc (USCR)

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Russell Investments Group Ltd. increased its position in shares of US Concrete Inc (NASDAQ:USCR) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,239 shares of the construction company’s stock after purchasing an additional 12,142 shares during the quarter. Russell Investments Group Ltd.’s holdings in US Concrete were worth $10,815,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in USCR. Bank of New York Mellon Corp increased its position in shares of US Concrete by 51.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,078,115 shares of the construction company’s stock worth $109,101,000 after purchasing an additional 709,745 shares in the last quarter. Hodges Capital Management Inc. increased its position in shares of US Concrete by 446.1% during the 2nd quarter. Hodges Capital Management Inc. now owns 687,255 shares of the construction company’s stock worth $36,081,000 after purchasing an additional 561,405 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of US Concrete during the 2nd quarter worth about $11,025,000. Public Employees Retirement Association of Colorado increased its position in shares of US Concrete by 1,816.4% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 106,033 shares of the construction company’s stock worth $5,567,000 after purchasing an additional 100,500 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its position in shares of US Concrete by 22.5% during the 2nd quarter. Peregrine Capital Management LLC now owns 378,413 shares of the construction company’s stock worth $19,867,000 after purchasing an additional 69,625 shares in the last quarter.

USCR has been the subject of several research reports. SunTrust Banks set a $70.00 price objective on shares of US Concrete and gave the company a “buy” rating in a research report on Monday, August 6th. ValuEngine upgraded shares of US Concrete from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 2nd. BidaskClub upgraded shares of US Concrete from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. Citigroup lowered their price objective on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating for the company in a research report on Monday, July 23rd. Finally, DA Davidson set a $95.00 price objective on shares of US Concrete and gave the company a “buy” rating in a research report on Sunday, May 20th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $81.33.

USCR opened at $48.95 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 2.27. The stock has a market capitalization of $810.63 million, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.33 and a beta of 1.05. US Concrete Inc has a 1-year low of $44.00 and a 1-year high of $86.35.

US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.21). The company had revenue of $404.20 million during the quarter, compared to analyst estimates of $390.55 million. US Concrete had a net margin of 2.34% and a return on equity of 12.82%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. equities research analysts forecast that US Concrete Inc will post 3.63 EPS for the current year.

In other US Concrete news, CFO John E. Kunz bought 1,000 shares of US Concrete stock in a transaction dated Thursday, August 9th. The shares were bought at an average price of $51.76 per share, with a total value of $51,760.00. Following the purchase, the chief financial officer now owns 13,356 shares of the company’s stock, valued at $691,306.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman William J. Sandbrook sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $50.39, for a total transaction of $453,510.00. Following the completion of the transaction, the chairman now directly owns 403,915 shares in the company, valued at approximately $20,353,276.85. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,650 shares of company stock valued at $182,178 and sold 19,890 shares valued at $1,035,621. Company insiders own 5.30% of the company’s stock.

About US Concrete

U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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Institutional Ownership by Quarter for US Concrete (NASDAQ:USCR)

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